FB Financial Co. (NYSE:FBK) Sees Large Increase in Short Interest

FB Financial Co. (NYSE:FBK) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 623,100 shares, a growth of 18.4% from the March 15th total of 526,200 shares. Based on an average daily volume of 182,000 shares, the short-interest ratio is currently 3.4 days. Approximately 1.8% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of analysts have commented on the stock. Piper Sandler lowered their target price on shares of FB Financial from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday. Keefe, Bruyette & Woods cut their target price on FB Financial from $58.00 to $52.00 and set a “market perform” rating on the stock in a research note on Thursday. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Stephens reduced their price objective on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Finally, Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $60.00 to $59.00 in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.80.

FB Financial Trading Down 1.5 %

Shares of FB Financial stock traded down $0.62 during trading on Monday, reaching $39.99. The stock had a trading volume of 251,294 shares, compared to its average volume of 165,196. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 16.19 and a beta of 0.92. FB Financial has a 52 week low of $34.50 and a 52 week high of $58.88. The stock has a fifty day moving average price of $46.33 and a two-hundred day moving average price of $50.25.

FB Financial (NYSE:FBK) last announced its earnings results on Monday, April 14th. The financial services provider reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. The business had revenue of $130.67 million during the quarter, compared to analysts’ expectations of $132.28 million. During the same quarter in the prior year, the company posted $0.85 earnings per share. On average, equities analysts forecast that FB Financial will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.90%. FB Financial’s dividend payout ratio is 27.94%.

Insider Transactions at FB Financial

In other news, Director James W. Iv Cross purchased 7,200 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The shares were acquired at an average price of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the acquisition, the director now directly owns 61,278 shares in the company, valued at approximately $2,481,146.22. The trade was a 13.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were purchased at an average cost of $52.56 per share, with a total value of $105,120.00. Following the completion of the acquisition, the insider now directly owns 10,919,841 shares in the company, valued at approximately $573,946,842.96. The trade was a 0.02 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 15,200 shares of company stock worth $701,468. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of FB Financial by 0.9% in the third quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock valued at $38,272,000 after buying an additional 7,021 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of FB Financial by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,775 shares of the financial services provider’s stock valued at $3,134,000 after acquiring an additional 4,918 shares during the period. SG Americas Securities LLC increased its stake in shares of FB Financial by 39.7% during the 4th quarter. SG Americas Securities LLC now owns 19,850 shares of the financial services provider’s stock worth $1,022,000 after purchasing an additional 5,642 shares during the last quarter. Barclays PLC raised its holdings in shares of FB Financial by 58.3% in the 3rd quarter. Barclays PLC now owns 94,062 shares of the financial services provider’s stock valued at $4,415,000 after purchasing an additional 34,633 shares during the period. Finally, GAMMA Investing LLC lifted its stake in FB Financial by 45.2% in the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 314 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Company Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.